BABA Stock Price: Alibaba Group climbs once again as bullish momentum continues
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE:BABA gained 0.16% during Friday’s trading session.
- AliBaba is still firing on all cylinders as the stock recovers.
- Another mixed day for Chinese ADRs to close the week.
NYSE:BABA continued to roll on Friday as the stock closed higher amidst a sector rotation from growth stocks to value. Shares of BABA gained 0.16% and closed out the trading week at $177.70. Growth stocks took a beating on Friday as disappointing earnings reports hit the tech sector hard. The NASDAQ fared the worst among the three major indices, and the S&P 500 also inched lower during an otherwise flat trading day. The Dow Jones was the lone bright spot, as the blue-chip stock index closed at another fresh new all-time high.
Stay up to speed with hot stocks' news!
AliBaba continues to gain momentum as the stock creates a stronger bottom following months of decline. The tech conglomerate is still pumping out products and services, including the entry into the ARM chip sector that it announced earlier this week. AliBaba also unveiled a fast fashion app that is meant to appeal to westerners, called allyLikes. It is most likely meant to target Shein, the Chinese fast fashion app that has been a hit in the Western and European markets. This could be a way for AliBaba to test out its global shipping speeds, as the company announced previously that it hopes to set up delivery times to anywhere in the world within 72 hours.
BABA stock analysis
Friday saw another mixed session for Chinese ADR stocks, as Baba was one of the only companies to close the day in the green. JD.Com (NASDAQ:JD), Nio (NYSE:NIO), Baidu (NASDAQ:BIDU), and Didi (NYSE:DIDI) all finished the session below water, while PinDuoDuo (NASDAQ:PDD) was one of the only other ADRs to close in the positive.
- NYSE:BABA gained 0.16% during Friday’s trading session.
- AliBaba is still firing on all cylinders as the stock recovers.
- Another mixed day for Chinese ADRs to close the week.
NYSE:BABA continued to roll on Friday as the stock closed higher amidst a sector rotation from growth stocks to value. Shares of BABA gained 0.16% and closed out the trading week at $177.70. Growth stocks took a beating on Friday as disappointing earnings reports hit the tech sector hard. The NASDAQ fared the worst among the three major indices, and the S&P 500 also inched lower during an otherwise flat trading day. The Dow Jones was the lone bright spot, as the blue-chip stock index closed at another fresh new all-time high.
Stay up to speed with hot stocks' news!
AliBaba continues to gain momentum as the stock creates a stronger bottom following months of decline. The tech conglomerate is still pumping out products and services, including the entry into the ARM chip sector that it announced earlier this week. AliBaba also unveiled a fast fashion app that is meant to appeal to westerners, called allyLikes. It is most likely meant to target Shein, the Chinese fast fashion app that has been a hit in the Western and European markets. This could be a way for AliBaba to test out its global shipping speeds, as the company announced previously that it hopes to set up delivery times to anywhere in the world within 72 hours.
BABA stock analysis
Friday saw another mixed session for Chinese ADR stocks, as Baba was one of the only companies to close the day in the green. JD.Com (NASDAQ:JD), Nio (NYSE:NIO), Baidu (NASDAQ:BIDU), and Didi (NYSE:DIDI) all finished the session below water, while PinDuoDuo (NASDAQ:PDD) was one of the only other ADRs to close in the positive.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.